After a week of reviewing the tax-free exclusion rule for selling a rental property, I decided not to sell. I’d already used my $500,000 tax-free exclusion amount and would need to wait at least two more years before I could potentially use the full amount again. Most importantly, I’m on a mission to boost my| Financial Samurai
To celebrate Millionaire Milestones: Simple Steps To Seven Figures making the USA TODAY national bestseller list, I want to share how you might feel and what you might do as you hit various levels of wealth (net worth). Perhaps by sharing, I'll motivate you to save and invest more aggressively. We'll start with reaching your first| Financial Samurai
Do you want a rich long life? Of course you do. It turns out that marrying an Asian person may give you the highest chance of outliving and out-earning most people. Let me share how I came to this conclusion. After publishing my post on how life expectancy greatly depends on wealth and location, a| Financial Samurai
Want to learn how to become a millionaire by 30? Here’s my story on how I reached a million dollar net worth in my late-20s. It involved a lot of luck, a lot of effort, and a lot of risk. I believe all Financial Samurai readers will eventually become millionaires due to disciplined saving and| Financial Samurai
The best way to get rich is to turn funny money into real assets. By turning funny money gains into real assets, you increase your chances of holding onto your gains. But what is funny money? Funny money is money that is built upon far out assumptions that may never come true. Funny money is| Financial Samurai
Curious to know the ideal net worth for retirement? As someone fake retired in 2012 at age 34 with $3 million, let me tell you. $10 million sounds like the ideal amount of money to retire with. With $10 million, you can easily generate between $300,000 - $500,000 of low-risk investment income. I was talking| Financial Samurai
Needless to say, a $20 million net worth is a substantial amount of money. It firmly places you within the top 1% of net worth, with the current minimum threshold around $13 million. But is $20 million enough for you to live happy and free? Not necessarily. Previously, we discussed how a $10 million net| Financial Samurai
Practice stealth wealth if you know what's good for you. Showing off how much you make and how much you have is not the way of the Financial Samurai. You will be crucified by the public if you show of your outsized wealth. People will not give you credit for the risk you took and| Financial Samurai
One of the reasons why I continue to save so much is that I'm a perpetual failure. I've made so many mistakes in my life that I need a financial buffer to constantly bail me out. A landmine-filled upbringing has also embedded in me the necessity to save. If it's not an investment mistake, it's| Financial Samurai
If there's one generation wealthier than ours, it's the 'Bank of Mom and Dad' generation. Given that our parents have had, on average, three decades longer to save and invest, it's natural that they have accumulated more wealth. For adult children in need of financial assistance, finding a tactful way to approach their parents for| Financial Samurai
F you money. FU money. F*ck you money. It's all the same. F You Money is having enough money to tell others to F Off without fearing financial repercussions. I'm sure some of you have dreamt of telling your annoying micromanager to F Off. But you can't because you still want that raise and promotion.| Financial Samurai
After publishing my post on no longer being financially independent, several media outlets picked up the story and thousands of comments on their respective platforms ensued. The main criticism was that my expenses were way too high and that I am greedy. As a result, I thought it would be useful to discuss the impact| Financial Samurai
Everybody wants to become a millionaire. Unfortunately, not everybody's chances of becoming a millionaire are the same, partially because the playing field is not even. This article looks at historical data on your chances of becoming a millionaire by race, age, and education. Getting to at least one million dollars in net worth is a| Financial Samurai
